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Section 225 TCGA 1992
Could someone please explain Section 225 TCGA 1992 in simple terms. Thanks - Tonome
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Am I better off?
Hi. To cut a long story short.... My Employer is about to offer me £35K including a Car Allowance (I don't know how much - I think £4K odd). So I'm looking at £31K+£4K CA. Am I better off on a flat £35K or £35K including the CA, please? Also, previously for occasional business use, I could claim 40p a mile. How would this…
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Tax on two jobs ?
hiya can someone tell me about paying tax on two jobs? i am currently on extended mat leave ,followed by 1 year career break in which time i will still qualify for holiday pay bonuses etc which this tax year will amount to about £3500. I have applied for a job to work from home within that time, which will earn approx…
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Tax Reclaiming Advice
Hi there. I'm a student who's gotten into hardship and so I've decided to reclaim my tax back from previous years. Basically I worked for one year as part of a work placement from 01/07/04 to 30/06/05. No other jobs prior or since. I have my P60 & P45. On the P60 For Tax Year to 5 April: Tax Code: 474L Pay: 8694.84 Tax:…
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Letter from HMRC re S/Employment
Has anyone else received a letter from HMRC stating that they have been issued a tax return recently and giving a tips on filling it in order to avoid errors ? it was sent by the 'advice team'. I was s/employed and have the form ready to return but I'm curious about the letter.
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Blind persons tax allowance
Can anyone explain why an additional tax allowance exists for blind people and not any other disability? Surely the government does not say that being blind is worse than any other disability, or that any other disability has no additional costs incurred?? Cannot find anywhere on their website as to the reason why this…
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Query about potential CGT on house sale.
Can anyone give me some advice regarding CGT on property. My wife’s parents gifted their house to her approx 10 years ago in return for being allowed to continue to live there rent free, with my wife paying for the upkeep of the house eg. repairs, buildings insurance etc. as they were struggling with these costs. They…
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Inheritance scenario...
Apologies if this is the wrong board but... I was hoping someone might be able to give an opinion as to whether a Granparents estate was handled efficiently. Scenario: Grandfather dies leaving £250K and £50K savings - Grandmother needed to go in to a care-home so the Estate was divided in to two and the Grandfathers…
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GiftAid next year
(Maybe this is one for the charities board too) When basic rate tax drops to 20% next April tax relief will be reduced - and that presumably includes all charities through GiftAid My question: Could a 40% taxpayer claim the full difference between 40% and 20% instead of (as now) only the 18% difference? It would appear…
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PAYE Coding notice
Ive been recently medically discharged from the british army and i now receive a service invaliding pension. i received a PAYE coding notice letter from hm revenue and customs today saying my pension will be taxed a BR tax code (22%) will i be taxed at the BR code by my new employer as well or will this code only be used…
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Late Dads Pension
Not sure if this in the right place but the question is income tax related. My father died in Sept 05, I'm his only daughter and he had no wife. I was granted Probate with a letter of administration and orgainised the payout of one pension which cleared any outstanding debts he had left. I have recently had a letter from a…
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First Time Self Assessment
I've just received a letter asking me to complete a tax return. Will I receive forms in the post. Or should I just go ahead and complete online?
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Pension payments via ltd. co.
Can anyone explain in less than 100 pages how pension payments work with ltd. co. accounts... ie how corporation tax and nics are affected, and whether you need to take a proportion of profits as salary.
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self employment
Hi i am self employed but i only work part time. As this suit looking after the kids with my partner who works part time she employed though. My question is i have been self employed for 3 yrs and i havent earned enough to pay any tax.This also suits me! I want to know would this ever be a problem with the tax man because…
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Capital Gains Tax
Can anyone explain how Capital Gains Tax works? My mum is planning to sell me the house she had just inherited from her parents but we don't know if this wil be taxed under Capital Gains?
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Tax relief on the purchase of uniforms
I know you can claim for the laundering of uniforms but can you claim anything for having to purchase your own uniform? Thanks
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Inheritance Tax implication
My mother, who is in her 80's, is considering giving my brother and myself a lump sum of money out of her capital. I realise that this would be free of inheritance tax as long as Mum lives for 7 years. She would also like to pay for me to have a new bathroom! What are the implications as far as the tax man is concerned?
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Tax Return Advice Needed
I completed a self assessment return last year for year 2005/6. During that period I only worked in the UK during April to June and again between February and April. During the interim period I worked in Dublin during August and again between October and December. I did not work in July, September or January. I…
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Going to Oman
I am hoping someone here can help me. I have been offered some work for about 5 years in Oman so will be non resident for tax purposes. I will also have some UK income whilst I am away ie I will rent my flat out, I have some bank interest and some investment trust dividends. Can anyone tell me whether I will still get a UK…
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Selling a flat and CGT - complicated one - help please!
We currently own a flat which we would like to sell. However the title is guaranteed in a different way. That is to say that the title of the whole building is registered in a the name of a LTD company, not named people. The freehold of the building is owned and managed by the company. My wife and one person from each of…